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One of the country’s largest states, Texas has been making a big impression in the economic development of present day commercial opportunities seen across the globe. Taking its place at the top in year-over-year population, job expansion and overall commercial growth; the state has been attracting residents and businesses from across the country and world over the last decade.

Appealing to out-of-state and international transplants for its low cost of living, increasing job opportunities and overall quality of living; the business community is also fueling from similar benefits the southwestern state offers.

Beginning with the accommodating business climate, big name and newly established companies are brought to the area through the nationally low taxes and regulations it provides. Also adding to its appeal are the decreased barriers to entry Texas’ vast commercial landmass enables along with the talented population it retains. “With these key factors separating the state from others in the nation for its commercial value, businesses are looking to Texas to help position them ahead of competitors and for a future of success,” shares Marcus Hiles, a leading Texas entrepreneur and CEO of the Dallas-based property firm Western Rim Properties.

The commercial industry throughout the state of Texas has seen growing interest from globally recognized organizations among the world’s leading markets. Tech and industrial sectors, hospitality, manufacturing and energy industries are among those growing their roots in the nation’s second largest state that offers some of the best in vast land mass, talented workforce, affordability and business friendly regulations.

A unique environment where a collective group of diverse companies, populations and communities can come together to create opportunities and success at scale, the state has positioned itself in a way that has attracted organizations such as AT&T, Dell and Southwest Airlines.

Fortune’s 64th annual report released late this May sees the state as owning the third largest sector nationwide for Fortune 500 Company headquarters. The businesses on this list are those leading the economy and operating at a rate that produces 2/3rds the United States GDP. With nearly $13 trillion in revenue combined, Fortune describes this elite group as the most important engine of both US and global economies.

Holding 48 of the 500 firms on Fortune’s list, it is no surprise the overall Texas economy has continued to grow steadily each year in part from these companies that are each pulling in a minimum of $5.4 billion in revenues.

“The benefits that have come to the Texas area through this level of mass business operations has also commercially impacted other areas. Small business and startup communities, business infrastructure industries such as data centers as well as the migration of out of state and international employees coming for job opportunities,” shares DFW-based entrepreneur Marcus Hiles, who has seen a growing demand in his rental properties from this commercial boom.

Having one of the region’s most progressive workforces and helpful local tax perks, Austin contributed a large sum of $626 million to the state, a twenty percent growth from 2015.
Marcus Hiles claims that the technology center saw its utmost annual dollar figure since 2001 combined with an immense rise in importance, “Austin is a brand, and venture capitalists are very fond of it,” said Bernard Weinstein, an economist at Southern Methodist University, “They put their money in Austin to be a leader in IT and software development.” The software industry boosted a majority stake of investments, with $328 million going into forty-two deals. Biotechnology and IT services followed, making $120 million and $56 million, correspondingly. Mayor Steve Adler considers readiness to innovate has played an important role to his city’s commercial success, “There’s a reason that tech and transportation companies come to Austin to roll out their new initiatives. And that’s because Austin is where good ideas become reality.”

In current times, flexibility is of primary importance while designing houses, and Marcus Hiles says that houses are being planned with open floor blueprints and flexible rooms that can certainly transform to accommodate newer members of growing families. Perceived spaces—that is, rooms marked by various materials or shades found in roofs or floors—is a new approach to make interiors seem more spacious while excluding unnecessary walls. Breaking through barriers is what true design really means. For example, larger windows permit extra light and can replace walls right away, while combining the inside with the outside world. Bearing in mind the end goal to make homes more alluring, hot tubs, gyms and spas have been created making relaxation easy to achieve. Additionally, as the attractiveness of cooking gourmet dinners has expanded, so have kitchens: with restaurant-like appliances and furniture like islands, kitchens are usually assigned extra overall square footage and have become the hub of the house, bettering dining and living rooms as the place families come together.

Marcus Hiles, the leader of Western Rim Property Services, shares that communities with resort-style facilities can provide the best value among Dallas tenants. “You can switch from a sultry four-cornered apartment complex to a property that embodies your dream lifestyle,” he says. “It is crucial for potential renters to access services and facilities that suit them. Animal lovers can have the best time with their pets at properties that have close access to pet-grooming and veterinary clinics, and contain comfortable waste stations and a private off-leash dog park inside. Other developments are designed for the convenience of families with kids because they have on-property parks, recreational areas, and playgrounds, and are situated in exceptional school districts,” Hiles adds. Moreover, fitness buffs should stay in locales where they can jog along an extensive network of trails, exercise in modern fitness centers, and workout with professional personal trainers. Communities with astonishing golf course landscapes and golf incentives may also appeal to keen golfers.

At first look, Dallas doesn’t come to have many commonwealth with New York and Los Angeles beyond grading among the ten growing cities in the U.S. Yet, notes Texas real estate developer Marcus Hiles, “When you dig a little deeper, it turns out that all three locales have more renters than homeowners.” In fact, 55.9 percent of Dallas households dwell in rental housing. Across the country, Americans are increasingly selecting tenancy over home ownership, with the principal of renters aspired to bulge by at least a half million each year through 2023. Opposed to common wisdom, homeowners’ housing expenditures far exceed that paid by renters. While the annual worth of rent may break away total house payments for the year, buyers are loaded with maintenance sustenance and further utility payments — making the rental lifestyle even more interesting.

One of the expertises of Marcus Hiles in real estate development is analyzing the effect of various building features and materials on energy consumption. His utilization of window placement techniques that maximize the efficiency of a housing development’s orientation and materials is essential to keep Texas homes warm during the winter and cool during the summer. Huge percentage of heated air and cooled air is maintained indoors if the home has shading devices, anti-air leakage frames, and windows with the proper solar coefficient. This does not only boost cost saving but lessens carbon emissions as well. For Hiles, radiant roof panels are important heat reduction components among homes because they bounce back the majority of heat coming from the sun, preventing it from reaching the air ducts through the roof and ultimately decrease five to ten percent of cooling cost. He also includes air conditioning systems that have greater seasonal energy efficiency ratio (SEER) in the houses to create more value. As a result, lesser carbon is emitted and residents in Western Rim Property Services communities save $420,000 worth of energy.

Why people prefer renting rather than owning? Hiles states that, the advantage of rental lifestyle to people in Texas and the rest of the country is flexibility. “We like to live in an area temporarily,” he reflects. “The thought of residing in one place for long, perhaps for a span of a 30-year mortgage, seems to be a thing of the past.” A research shown by Hiles reveals that renters appears to have more benefits in the long run compared to the individuals who own a home. “It is easier for renters to socialize with others and take part in leisure endeavors,” he includes.

Marcus Hiles, while recognizing that happiness assumes many forms, explains that residents of his more than 15,000 homes, townhomes, and apartments are particular appreciative of the advantages when renting upscale properties. “We carefully select premiere real estate and then build homes that are both beautiful and extremely energy efficient,” he says. This results in residents saving hundreds of dollars each year in utility bills. And, because they don’t have to bother with yard work, home repairs, or mortgage escrow accounts, upmarket renters have more time and cash to chase their dreams. “People in our communities have the latitude to invest on their own terms and the freedom to take advantage of opportunities that crop up in other locales,” Hiles said. “In my experience, a resident’s happiness increases in proportion to the time spent living in a luxury rental community.”